Got $2 million to spare? You now can own your very own cruise ship
Thinking about buying a yacht in the coming year? Why not go big and get yourself your very own cruise ship?
One of the last classic cruise vessels dating to the 1960s is coming up for auction in the coming weeks in the wake of the collapse of yet another cruise-related venture -- and it could sell for far less than the cost of even a mid-size yacht.
Dating to 1961, the 240-cabin Funchal has an estimated value of just $2.2 million. That's just a quarter the price of the average second-hand yacht, according to yachting sites.
For more cruise news, reviews and tips, sign up for TPG's new cruise newsletter
Six decks high and 507 feet long, Funchal also is a heck of a lot bigger than the typical yacht, and it can hold more people. It's designed to carry up to 524 passengers.
But, of course, there are downsides to owning a giant cruise vessel. For starters, you'll have to hire a sizeable crew. Funchal normally operates with a staff of 155 people.
Currently docked in Lisbon, Funchal will be auctioned off by sealed tender on Jan. 29. London-based CW Kellock & Co, a ship auctioneer and broker, is handling the auction.
Constructed by Danish shipbuilder Helsingor Skibsvaerft, Funchal has a classic ocean liner look. It also has a storied history. It originally was built as an ocean liner for the Portuguese shipping line Empresa Insulana de Navegação, but it also was used at times as the Portuguese presidential yacht. It also once was owned by one of the wealthiest families in the Azores.
The vessel for many years served the Portuguese market. But it also had a second act in life as one of the core vessels for now-defunct Classic International Cruises.
Funchal was the very first ship in the Classic International fleet after the line's founding in 1985. Classic International collapsed in 2012.
Related: Former Carnival, Holland America ships up for auction
Funchal's current owner, a division of the UK's Signature Living Group, had planned to turn the vessel into a "floating beach club" off the coast of Ibiza -- the Spanish island known for its party vibe. The idea was to make Funchal a party ship with a vibrant bar scene and on-deck entertainment from the world's top DJs.
But the division entered into administration in April as travel around the globe shut down due to the new coronavirus.
The Funchal project was just one of a number of smaller cruise ventures that shut down this year as the coronavirus-related travel shutdown took a toll on the travel industry.
Related: Why your favorite cruise line probably isn't going out of business
Funchal can be inspected by would-be buyers by arrangement with CW Kellock & Co.
For details about the bidding process and particulars about the ship, would-be bidders should contact CW Kellock & Co by email at kellock@eggarforrester.com.
CW Kellock & Co has not posted a pre-auction price estimate for the ship. But online sites have estimated its value at around 1.8 million euros -- about $2.2 million.
Planning a cruise? Start with these stories:
- The 5 most desirable cabin locations on any cruise ship
- The 8 worst cabin locations on any cruise ship
- A quick guide to the most popular cruise lines
- 21 tips and tricks that will make your cruise go smoothly
- 15 ways cruisers waste money
- 12 best cruises for people who never want to grow up
- What to pack for your first cruise
TPG featured card
at American Express's secure site
Terms & restrictions apply. See rates & fees.
| 3X | Earn 3X Miles on Delta purchases. |
| 1X | Earn 1X Miles on all other eligible purchases. |
Pros
- Delta SkyClub access when flying Delta
- Annual companion ticket for travel on Delta (upon renewal)
- Ability to earn MQDs through spending
- Various statement credits for eligible purchases
Cons
- Steep annual fee of $650
- Other Delta cobranded cards offer superior earning categories
- Earn 100,000 Bonus Miles after you spend $6,000 or more in purchases with your new Card within the first 6 months of Card Membership and an additional 25,000 bonus miles after you make an additional $3,000 in purchases on the Card within your first 6 months, starting from the date that your account is opened. Offer Ends 04/01/2026.
- Delta SkyMiles® Reserve American Express Card Members receive 15 Visits per Medallion® Year to the Delta Sky Club® when flying Delta and can unlock an unlimited number of Visits after spending $75,000 in purchases on your Card in a calendar year. Plus, you’ll receive four One-Time Guest Passes each Medallion Year so you can share the experience with family and friends when traveling Delta together.
- Enjoy complimentary access to The Centurion® Lounge in the U.S. and select international locations (as set forth on the Centurion Lounge Website), Sidecar by The Centurion® Lounge in the U.S. (see the Centurion Lounge Website for more information on Sidecar by The Centurion® Lounge availability), and Escape Lounges when flying on a Delta flight booked with the Delta SkyMiles® Reserve American Express Card. § To access Sidecar by The Centurion® Lounge, Card Members must arrive within 90 minutes of their departing flight (including layovers). To access The Centurion® Lounge, Card Members must arrive within 3 hours of their departing flight. Effective July 8, 2026, during a layover, Card Members must arrive within 5 hours of the connecting flight.
- Receive $2,500 Medallion® Qualification Dollars with MQD Headstart each Medallion Qualification Year and earn $1 MQD for each $10 in purchases on your Delta SkyMiles® Reserve American Express Card with MQD Boost to get closer to Status next Medallion Year.
- Enjoy a Companion Certificate on a Delta First, Delta Comfort, or Delta Main round-trip flight to select destinations each year after renewal of your Card. The Companion Certificate requires payment of government-imposed taxes and fees of between $22 and $250 (for itineraries with up to four flight segments). Baggage charges and other restrictions apply. Delta Basic experiences are not eligible for this benefit.
- $240 Resy Credit: When you use your Delta SkyMiles® Reserve American Express Card for eligible purchases with U.S. Resy restaurants, you can earn up to $20 each month in statement credits. Enrollment required.
- $120 Rideshare Credit: Earn up to $10 back in statement credits each month after you use your Delta SkyMiles® Reserve American Express Card to pay for U.S. rideshare purchases with select providers. Enrollment required.
- Delta SkyMiles® Reserve American Express Card Members get 15% off when using miles to book Award Travel on Delta flights through delta.com and the Fly Delta app. Discount not applicable to partner-operated flights or to taxes and fees.
- With your Delta SkyMiles® Reserve American Express Card, receive upgrade priority over others with the same Medallion tier, product and fare experience purchased, and Million Miler milestone when you fly with Delta.
- Earn 3X Miles on Delta purchases and earn 1X Miles on all other eligible purchases.
- No Foreign Transaction Fees. Enjoy international travel without additional fees on purchases made abroad.
- $650 Annual Fee.
- Apply with confidence. Know if you're approved for a Card with no impact to your credit score. If you're approved and you choose to accept this Card, your credit score may be impacted.
- Terms Apply.
- See Rates & Fees